ML-Implode News - Richard Zombeck - Below the Fold: Putting the "Lie" In LIBOR

It's been a bit surprising to witness the conspicuous lack of pitchforks and torches, what with all the hubbub about the Libor having been rigged. It's not as if it's headline news though. The media, if they mention it all, has given it a requisite plug between Tom and Katie's break up and the weather. If it makes it past the cutting room floor, it's being downplayed as inconsequential and unimportant. They're describing it as an inter-bank interest rate, rolling their eyes and sloughing it off as something that only affects those financial geniuses on Wall Street.
... [but] as Libor moves up or down, it can change the amount you pay every month to service your debt. If you have a small business, own a home, finance a car, have a credit card, Libor is in your life.

... the deafening silence and apathy is astounding. "If some guy had held up a bank and taken a percentage point from every customer in the bank, there'd be a nationwide manhunt," former Ohio AG Marc Dann said in a recent conversation, "This was not a hard crime to miss unless you believe the actors aren't cheaters." Dann currently has his own practice and has focused his efforts on defending homeowners in foreclosure.''

Relevant:

Richard Zombeck - Below the Fold: Putting the "Lie" In LIBOR